WASHINGTON — Rep.-Elect Tom Cotton, R-Dardanelle, will serve on the House Financial Services Committee when the 113th Congress convenes in January.
Cotton is among four newly elected Republicans who will join the committee that has jurisdiction over banks, credit unions and other financial institutions.
Rep. Jeb Hensarling, R-Texas, the incoming chairman has three top priorities for his committee in the coming year, according to the Wall Street Journal.
Hensarling wants to reform the 2010 Dodd-Frank financial reform bill to put big and small banks on an even playing field rather than giving the advantage to large institutions deemed “too big to fail.”
He also plans to tackle reform of government-sponsored enterprises – Fannie Mae, Freddie Mac, and the Federal Housing Administration — that Republicans say were at the center of the financial crisis.
And, he wants to provide stronger oversight of the Federal Reserve, according to the Wall Street Journal. Cotton was not immediately available for comment on Friday.